Origins of reverse innovation: How do firms apply reverse innovation
The current glocalization approach, where Western multinationals just export products to developing countries is becoming outdated. Currently there is a new phenemenon, which is called reverse innovation. These are innovations that are developed for the developing countries, but later on adopted in the developed countries. Because of the great potential reverse innovation has to offer, some Western firms invest in foreign start-ups or are even disrupting themselves by making use of reverse innovation. Through the technology turbulent, rapidly changing and continuously innovating Indian Telecommunication market, which is expected to be the world's largest, this book explains the potential for reverse innovation. Due to a decentralized, customer oriented focus these Indian firms are innovating and serving the customers in bottom-of-the-pyramid countries very well. They do this by either keep on coming up with new-to-the-world innovations, building brands through social media, mass customization, great after sales service and all the current best practices for reverse innovation, by identifying customer pain points and creating new consumption among non customers.